Aplication of theory of games on the financial advisory in Czech Republic

Petr Zámečník

Ekonomika a Management, 2013, vol. 2013, issue 2, 32-42

Abstract: This paper analyzes financial advisory from the perspective of the theory of games. It concludes that if non-cooperation game with information asymmetry in favor of the financial adviser, client is at a serious disadvantage. When the game is extended on cooperation, which implies also a reduction of information asymmetry, the client is moved in a more favorable position. Reduction of information asymmetry is possible by increasing financial literacy. According to the analysed model to improve the quality of financial advisory will help increasing of the financial literacy of clients.

Keywords: Fiancial literacy; Financial advisory; Theory of games; Finanční gramotnost; Finanční poradenství; Teorie her (search for similar items in EconPapers)
JEL-codes: G30 (search for similar items in EconPapers)
Date: 2013
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